Kuwait-India energy trade can be strategic partnership: PM

    By IANS,

    New Delhi : The energy trade between India and Kuwait can be turned into a strategic partnership through long-term supply arrangements and by establishing petrochemical projects in India, Prime Minister Manmohan Singh said Friday.

    Support TwoCircles

    In his speech at a banquet held in honour of visiting Kuwait Prime Minister Sheikh Jaber Al-Mubarak Al-Hamad Al-Sabah, Manmohan Singh said that security cooperation has added a new dimension to the bilateral relationship.

    “This reflects our shared vision that our cooperation is necessary for countering extremism and terrorism that affect both of us,” he said.

    The prime minister said that the two sides discussed the possibility of turning the energy trade into a strategic partnership.

    “This can be done through long-term supply arrangements on mutually beneficial terms and collaboration in establishing upstream and downstream petroleum and petrochemical projects in India,” he said.

    He said the India will seek enhanced Kuwaiti investments in its infrastructure sector and there is great prospect for project exports from India to Kuwait.

    The prime minister said the bilateral engagement was marked by a deep sense of comfort and enduring goodwill between people and it was a source of great vitality and resilience in the mutual relationship.

    “Equally, the warmth and affection for India that I have seen in the leadership of Kuwait adds to our confidence in the relationship. The 700,000 Indians in your country are a living bridge between Kuwait and India. They are building their lives, supporting families at home and contributing to Kuwait’s pluralism and progress,” the prime minister said.

    He said the two countries were not only joined together by the vitality of human contact but have also built a multifaceted partnership that serves vital interests.

    “Indeed, by deepening our partnership, India and Kuwait can address more effectively many of the challenges that they face in the shared neighbourhood,” he said.

    The prime minister said Kuwait has been an integral part of West Asia’s linkages of commerce, culture and religion with India from time immemorial.

    Manmohan Singh said the visit of the Kuwaiti prime minister had given impetus to bilateral relations.

    “We value your contribution to the cause of peace in the region, and we look forward to Kuwait’s leadership in seeking solutions to the region’s many challenges,” the prime minister said.